Beneficiaries of the Waitomo Energy Services Customer Trust (WESCT) are being encouraged to have their say on the future ownership of The Lines Company (TLC), with voting now open for the 2026 Ownership Review Poll.
Voting papers will be mailed to beneficiaries from Monday, 24 August as part of the WESCT election pack, which includes voting papers for both the Ownership Review Poll and the Trustee Election.
The Ownership Review Poll is held every six years, as required under the WESCT Trust Deed, and asks beneficiaries whether they wish the Trust to continue owning 100% of The Lines Company on their behalf.
WESCT Chair William Oliver said the poll was an important opportunity for beneficiaries to help shape the future of an asset that has been held in Trust ownership for more than 30 years.
"Every six years, our beneficiaries have the opportunity to review the current ownership model and have their say on the future ownership of The Lines Company," says Mr Oliver.
"This is an important decision for our community and for future generations. We encourage everyone to take the time to read the independent report and supporting information, consider the recommendations, and make sure they cast their vote."
As part of the Ownership Review Poll, WESCT commissioned an independent report to assess the current ownership model and the alternative ownership options available under the Trust Deed. The Lines Company Board also provided its own report and recommendation for beneficiaries to consider.
The independent advisors found that the current 100% Trust ownership model returns around $5.4 million of value to the community each year through beneficiary discounts and lower line charges and concluded that these benefits would be unlikely to continue under alternative ownership arrangements. In the most recent financial year, the total value returned to the community increased to approximately $5.8 million.
The report also concluded that continued 100% Trust ownership is the option most likely to provide stable, long-term benefits for beneficiaries and the wider community. The Lines Company Board has also recommended that TLC remain 100% Trust owned, and the WESCT Trustees have reached the same conclusion after considering both reports.
Mr Oliver said community ownership was about more than annual discounts.
"Trust ownership has enabled The Lines Company to balance investing in a safe and reliable electricity network while returning benefits to our community. It means the value of this important community asset continues to grow for current and future generations, while remaining locally owned."
Over the past six years, beneficiaries have received an average of $4.5 million in TLC discounts each year. Under the current regulatory period, TLC has also deliberately set prices below the maximum allowable revenue to support affordability for customers. Alongside this, TLC invests more than $800,000 each year into community funding, sponsorships and support initiatives.
The Ownership Review Poll asks beneficiaries two questions.
The first asks whether WESCT should continue to own 100% of The Lines Company on behalf of beneficiaries.
If beneficiaries vote against continued Trust ownership, a second question asks which alternative ownership option they would prefer the Trustees to consider, in accordance with the Trust Deed. These options include transferring shares to beneficiaries or local authorities, or selling shares and distributing the proceeds.
Mr Oliver said while the Trustees have recommended retaining the current ownership model, the decision ultimately rests with beneficiaries.
"The Trustees have made their recommendation after considering both the independent report and the recommendation of The Lines Company Board, but ultimately this decision belongs to our beneficiaries," says Mr Oliver.
"Whatever your view, we encourage everyone to take the time to vote and have their say."
If you are a beneficiary and have not received your voting pack, please contact Election Services on 0800 922 822 as soon as possible to request a replacement.
Votes must be received no later than midday on Thursday, 24 September 2026. Voting can be completed online or by post.
The independent Ownership Review Report, The Lines Company Board report and supporting information are available at www.wesct.org.nz.
- ENDS -
Additional information
About the Ownership Review Poll
The Waitomo Energy Services Customer Trust is required under its Trust Deed to undertake an Ownership Review Poll every six years. The poll asks beneficiaries whether WESCT should continue owning 100% of The Lines Company on their behalf. If beneficiaries vote against continued Trust ownership, the poll also asks which alternative ownership option they would prefer the Trustees to consider in accordance with the Trust Deed.
Independent findings
The independent Ownership Review concluded that:
Around $5.4 million of value is returned to the community each year through beneficiary discounts and lower line charges.
Continued 100% Trust ownership is the option most likely to provide stable, long-term benefits for beneficiaries and the wider community.
These outcomes would be unlikely to occur under alternative ownership arrangements.
About WESCT
The Waitomo Energy Services Customer Trust (WESCT) owns 100% of The Lines Company (TLC) on behalf of its beneficiaries.
WESCT has beneficiaries connected to around 11,500 electricity connections across the King Country, including Te Kūiti, Ōtorohanga, Piopio, Mangakino and Mōkau. The Trust is governed by six Trustees elected by beneficiaries for four-year terms.
